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<SEC-DOCUMENT>0001181431-10-040740.txt : 20100806
<SEC-HEADER>0001181431-10-040740.hdr.sgml : 20100806
<ACCEPTANCE-DATETIME>20100806140357
ACCESSION NUMBER:		0001181431-10-040740
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20100804
FILED AS OF DATE:		20100806
DATE AS OF CHANGE:		20100806

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			WHITTLESEY FAITH
		CENTRAL INDEX KEY:			0001222495

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-10991
		FILM NUMBER:		10997656

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			VALASSIS COMMUNICATIONS INC
		CENTRAL INDEX KEY:			0000883293
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-ADVERTISING [7310]
		IRS NUMBER:				382760940
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		19975 VICTOR PARKWAY
		CITY:			LIVONIA
		STATE:			MI
		ZIP:			48152
		BUSINESS PHONE:		3135913000

	MAIL ADDRESS:	
		STREET 1:		19975 VICTOR PARKWAY
		CITY:			LIVONIA
		STATE:			MI
		ZIP:			48152
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>rrd282925.xml
<DESCRIPTION>08/04/2010:  WHITTLESEY OPTION EXERCISES
<TEXT>
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                <value>2010-08-04</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>M</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>5000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2005-10-01</value>
            </exerciseDate>
            <expirationDate>
                <value>2014-10-01</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>5000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
        <derivativeTransaction>
            <securityTitle>
                <value>Director Stock Option (Right to Buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>28.3125</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2010-08-04</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>M</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>6000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <value>2001-12-05</value>
            </exerciseDate>
            <expirationDate>
                <value>2010-12-05</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>6000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $34.3 to $34.35, inclusive. The reporting person undertakes to provide upon request by the SEC staff, the issuer or any security holder of the issuer, full information regarding the number of shares sold at each price within the range of all transactions reported in this Form 4 utilizing a weighted average price.</footnote>
        <footnote id="F2">The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $34.305 to $34.385, inclusive.</footnote>
        <footnote id="F3">The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $34.29 to $34.35, inclusive.</footnote>
        <footnote id="F4">The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $34.32 to $34.35, inclusive.</footnote>
        <footnote id="F5">The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $34.325 to $34.375, inclusive.</footnote>
        <footnote id="F6">The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $34.3 to $34.57, inclusive.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Linda J. Schalek, Power of Attorney</signatureName>
        <signatureDate>2010-08-06</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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